This week in DoD sequestration news
In a series of articles published this past week and a half, the Military Times family of newspapers has focused on what servicemembers have to look forward to in 2015. Several of these articles focus on drawdowns, specifically in the Army and Marine Corps. The Army is expecting to lose more than 18,000 soldiers in 2015, and the Marine Corps drawdown will likely result in about 5,000 this year, with more to follow in 2016 and 2017. The Air Force announced that it will have no involuntary force cuts in 2015, and the Navy is not anticipating a reduction in its force.
Not surprisingly, the November results of the First Command Financial Behaviors Index® (FBI) show that 21 percent of military families are extremely/very concerned about their job security, with an additional 32 percent somewhat concerned. Thirty percent of military families are extremely/very anxious about defense spending cuts, and an additional 40 percent are somewhat anxious.
Meantime, the Military Compensation and Retirement Modernization Commission will release its recommendations for military pay reform in February, adding another layer of anxiety to servicemembers’ concerns about pay, benefits and retirement changes. If you are interested in finding out how military families feel about these changes, take a look at the November 2014 FBI survey results.
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